Community Reinvestment Area

The City of Wadsworth has a Community Reinvestment Area (CRA) that encompasses the industrial, commercial, and multi-zoned areas of the City.

Tax Exemption Guidelines

(as revised per Ordinance 00-90)

The amount of tax exemption established for each project is a function of the percent of exemption granted and the number of years the exemption is granted. This percent and term will be based on the amount invested in real and personal property and total payroll for the project.

Project Investment

Percentage of Tax Exemption

$100,000 - $249,999

10%

$250,000 - $499,999

20%

$500,000 - $999,999

30%

$1,000,000 - $2,499,999

40%

$2,500,000 - $4,999,999

50%

$5,000,000 - $7,499,999

60%

$7,500,000 - $9,999,999

70%

$10,000,000 - $12,499,999

80%

$12,500,000 - $14,999,999

90%

$15,000,000 and more

100%

New Payroll

Number of Years of Exemption - New

Number of Years of Exemption - Additions

$40,000 - $99,999

5

3

$100,000 - $199,999

6

4

$200,000 - $299,999

7

5

$300,000 - $399,999

8

6

$400,000 - $749,999

9

7

$750,000 - $1,249,999

10

8

$1,250,000 - $2,499,999

11

9

$2,500,000 and more

12

10

The City of Wadsworth City Council, in negotiations of tax exemption agreements, may also provide additional benefit to businesses based on the number of years the business is located in the City of Wadsworth per the following (maximum total for term for new construction is 12 years, 10 years for additions):

Years Business in City

Additional Years

5 - 9

1

10 - 14

2

15 - 19

3

20 and more

4

Note: A minimum of five full-time jobs must be created within the first 12 months of the agreement to be eligible to qualify for a CRA tax abatement.